Yes, that is possible for some people, everyone’s situation is different. The lowest payment on a proposal we have ever seen was for less than one penny on the dollar – more than a 99% saving.

Some of our competitors advertise that they will save you 70% or even 80% of your debts. But they are suggesting that as a lead into their office. Once inside you may find the story changes quite dramatically, and so it should.

Without knowing your personal situation, we could honestly say that filing a proposal “could save you up to 99% of your debts” – but we don’t feel we want to build your hopes up too high.

It would be fair to say that a survey of past proposals filed through our office showed the average (mean) payment was 26% while the most frequently filed and accepted value was 15% of the face value of debts.

Having said that, some people have filed proposals that pay the full value of their debts without interest. This type of proposal allows them to use the legislation to stop legal action and allow them to have some control over their situation.

Come in for a free, no obligation, consultation to see if a proposal is right for you.

Insolvency laws are very complicated but we make them easy for you to understand. We tell you what you need to know very simply with handouts and other materials.